Thursday, Sep 30, 2010
Property Loans Caused the Chaos
Reuters: Allied Irish shares drop 22 pct on new bailout
Shares in Allied Irish Banks (ALBK.I) dropped 22 percent on Thursday after the finance minister said he was likely to take a majority stake in the lender to make up a capital shortfall
Posted by alan @ 08:50 AM (446 views) Add Comment
2 Comments
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1. str 2007 said...
Is it actually possible now for any banks or countries to default or go bust or will the government/EU/IMF simply step in with ever bigger bailouts ?
It really wouldn't surprise me to see (in the extreme circumstance) the EU or whoever to declare overnight that they were debasing the currency by 50% overnight resulting in an overnight 33% pay increase for everyone.
This would obviously clear down alot of debt and other countries wouldn't lend to Europe anymore.
But taking Europe as a whole, aren't we capable of being self sufficient anyway.
And the fact that imported Chinese goods doubled in price overnight would mearly create extra work for European countries which would then be able to compete.
2. mark said...
Why don't they just break up the euro and go back to their old currencies much more fun to go on holiday with